{"id":610338,"date":"2019-04-26T05:10:38","date_gmt":"2019-04-26T05:10:38","guid":{"rendered":"<br><div>\n<p class=\"floatLeft\">Business News of Friday, 26 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>ghananewsagency.org<\/p>\n2019-04-26\n\n<div class=\"article-left\">\n<p class=\"article-image\"><img src=\"https:\/\/cdn.ghana-mma.com\/2019\/04\/47"},"modified":"2019-04-26T05:10:38","modified_gmt":"2019-04-26T05:10:38","slug":"sec-to-assist-fund-managers","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/04\/26\/sec-to-assist-fund-managers\/","title":{"rendered":"SEC to assist fund managers"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"floatLeft\">Business News of Friday, 26 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>ghananewsagency.org<\/p>\n<p>2019-04-26<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/47951064.295.jpg\" alt=\"Reverend Daniel Ogbarmey Tetteh\" title=\"Reverend Daniel Ogbarmey Tetteh\" width=\"295\" height=\"193\" \/><span class=\"image_caption\"><span>Rev Daniel Ogbarmey Tetteh<\/span><\/span><\/p>\n<\/div>\n<p style=\"clear:right\">The Securities and Exchange Commission (SEC) says it will pursue the interest of licensed asset management firms with legally proven locked up funds in some microfinance and savings and loans firms which have run into financial difficulties.<\/p>\n<p>Director-General of the SEC, Daniel Ogbarmey Tetteh, said the situation of counterparty default risk had impaired the liquidity assets of some fund managers.<\/p>\n<p>Rev Ogbarmey Tetteh disclosed this in a media interview about fund managers such as Gold Coast, who are facing liquidity challenges and have blamed the situation on counterparty default.<\/p>\n<p>\u201cThe BoG and Ministry of Finance have given some indication that they\u2019ll be having some kind of intervention for the distressed microfinance, savings and loans like they did for the banks,\u201d he explained.<\/p>\n<p>\u201cThe SEC has started engaging with the Ministry and BoG in this process so we can assist our licensed operators who have been affected by counterparty defaults to redeem their locked-up funds.<\/p>\n<p>\u201cProvided our licensed operators, who are exposed to these distressed companies, provide solid evidence submit all documents and can ascertain their claims when the bailout occurs, they\u2019ll definitely be paid their money.\u201d<\/p>\n<p>Such fund managers, he explained, were unable to readily redeem their investments from these ailing firms, hence they face a problem of cash flow which hinder their ability to pay their clients.<\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Friday, 26 April 2019 Source: ghananewsagency.org 2019-04-26 Rev Daniel Ogbarmey Tetteh The Securities and Exchange Commission (SEC) says it will pursue the interest of licensed asset management firms with legally proven locked up funds in some microfinance and savings and loans firms which have run into financial difficulties. Director-General of the SEC, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":605537,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-610338","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC to assist fund managers - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/26\/sec-to-assist-fund-managers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC to assist fund managers - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Friday, 26 April 2019 Source: ghananewsagency.org 2019-04-26 Rev Daniel Ogbarmey Tetteh The Securities and Exchange Commission (SEC) says it will pursue the interest of licensed asset management firms with legally proven locked up funds in some microfinance and savings and loans firms which have run into financial difficulties. Director-General of the SEC, [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"SEC to assist fund managers\",\"datePublished\":\"2019-04-26T05:10:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/\"},\"wordCount\":239,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/\",\"name\":\"SEC to assist fund managers - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2019-04-26T05:10:38+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/26\\\/sec-to-assist-fund-managers\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC to assist fund managers - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2019\/04\/26\/sec-to-assist-fund-managers\/","twitter_card":"summary_large_image","twitter_title":"SEC to assist fund managers - Ghanamma.com","twitter_description":"Business News of Friday, 26 April 2019 Source: ghananewsagency.org 2019-04-26 Rev Daniel Ogbarmey Tetteh The Securities and Exchange Commission (SEC) says it will pursue the interest of licensed asset management firms with legally proven locked up funds in some microfinance and savings and loans firms which have run into financial difficulties. 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